The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Hoboken NJ, Celsius has started the process of filing for Chapter 11 bankruptcy protection. The Hoboken, New Jersey-based company made headlines a month ago after freezing customer accounts, blaming “extreme market conditions.”
Continue reading Hoboken Based Crypto Lender Celsius files for Bankruptcy Protection
the staff of the Ridgewood blog
Ridgewood NJ, a recent Twitter thread compares the last bearish phases in the crypto market to the current situation to see if the bear market has reached its bottom yet. It presents data from previous bear market bottom zones with metrics. BTC (Bitcoin)has always bottomed at around 70-85% from its top price except for the drawdown in 2011. It is still far too soon to tell if the market has reached the bottom yet. The current macroeconomic situation makes everything more uncertain.
Continue reading Shorting Tether and Looking for a Bottom on Crypto
the staff of the Ridgewood blog
Ridgewood NJ, Sam Bankman-Fried (SBF), the billionaire founder of FTX, believes that many third-tier exchanges are already secretly insolvent. SBF has been issuing cash infusions to save crypto companies from collapsing. The lack of regulations around crypto exchanges has made many exchanges vulnerable to scammers and hacks. FTX remains profitable and has been so for the past 10 quarters. SBF is not worried about Tether, saying that there is no evidence to support the bearish views around the stablecoin.
Continue reading Crypto Billionaire Warns : Some Crypto Exchanges Already “Secretly Insolvent”
